Stung by some lousy investments that led to billions of dollars in losses a few years ago, the world’s major gold producers have cut back on mining deals.
Barrick Gold Corp. Mining News
The approval of the supreme decree 042-2017 in December might generate more unrest.
A new joint venture has been born.
In 2017, miners finally got tailwinds from commodities as unsavory supply pressures bolstered prices. What’s ahead for 2018? Bloomberg asked six top execs.
The deal was signed between Barrick Gold and Skeena Resources.
Mining companies, including Newmont Mining Corp, Teck Resources and Barrick Gold Corp, reported increased costs this week in their quarterly earnings.
"Barrick must be stopped!", a junior miner wrote.
The complex would be called the Giant Nickel All Season Resort.
The company was also included in the Dow Jones Sustainability North America Index for the 11th consecutive year.
Exeter shareholders will receive 0.12 of a common share of Goldcorp for each they have in the junior — that's a premium of 67% based on the part's closing prices on the day prior to the announcement.
The firm, a unit of Shanghai-listed Shandong Tyan Home, reportedly walked away from the deal due to recent tightened controls in China on outbound investment.
The world’s No. 1 and No. 3 gold producers will focus on developing gold mines in northern Chile's rich Maricunga belt.
The International Center for Settlement of Investment Disputes (ICSID) said Pakistan violated several provisions of its bilateral investment treaty with Australia, where the joint venture between Barrick and Antofagasta is incorporated.
Minjar Gold is still waiting for Chinese regulatory clearance and hasn’t been able to secure funding for the $1.3 billion deal.
Expected increased in the adoption of alternative energy sources by the country's gold sector to be boosted by recently passed regulations, such as the carbon tax.
The Chinese miner is also having a hard time trying to convince Western lenders of financing part of the deal.
The only way companies will cut costs and increase efficiency will be to embed digital technologies in every dimension of how mines are operated and managed, says Barrick Gold.
Soros Fund, which took a $263.7 million stake in Barrick Gold Corp. in the first quarter, cut its holdings in the world’s biggest producer of the metal by 94% in the ensuing three months.
Kinross, which operates two mines in Russia and also owns the problem-plagued Tasiast operation in Mauritania, seeks to strengthen its portfolio in North America.
Strong performance also came on the back of strategic initiatives, such as non-core asset sales, aggressive cost control measures and a disciplined approach in reducing debt.
Fund now owns a 1.7% stake in Canada's Barrick Gold.
Barrick announces appointment of Rob Krcmarov as Executive Vice President, Exploration and Growth, and Creation of Growth Committee
Planning for and managing future growth is critical.
The move would help the miner meet its ambitious target for reducing its $13 billion debt by $3 billion before year-end.
He will focus on a new business venture in resources and other hard assets, said Barrick.
Barrick Gold (NYSE:ABX, TSX:ABX), the number one producer of the precious metal, is hoping to raise up to $1.1 billion through the sale of two mines in Australia and Papua New Guinea.